IBM has installed a 127-qubit quantum computing system at the University of Tokyo, marking the arrival of the first "utility-scale" quantum system in the region. The system, called Quantum System One, will be used for research in various fields including bioinformatics, materials science, and finance. Meanwhile, Alibaba has decided to close its quantum computing laboratory and donate its equipment to Zhejiang University, citing cost-cutting measures and uncertainty caused by the US partial export ban on computer chips to China. The quantum computing sector is expected to grow by over $5.5 billion between 2023 and 2030, leading some experts to worry about the state of quantum computing research outside of the US and China.